Bellerophon Therapeutics Stock Forecast
Bellerophon Therapeutics stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Bellerophon Therapeutics stock price gained 0.727% on the last trading day (Friday, 26th Apr 2024), rising from $0.0550 to $0.0554. During the last trading day the stock fluctuated 8.98% from a day low at $0.0551 to a day high of $0.0601. The price has risen in 5 of the last 10 days and is up by 0.73% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 18 thousand shares were bought and sold for approximately $970.11 .
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bellerophon Therapeutics stock with a 90% probability to be traded between $0.0482 and $0.0627 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BLPH Signals & Forecast
The Bellerophon Therapeutics stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0551 and $0.0551. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 2.40%. Further rise is indicated until a new top pivot has been found. Bellerophon Therapeutics has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Friday, March 15, 2024 with a target of $0.0520. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Bellerophon Therapeutics stock
Bellerophon Therapeutics finds support from accumulated volume at $0.0550 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0050 between high and low, or 8.98%. For the last week, the stock has had daily average volatility of 7.05%.
Our recommended stop-loss: $0.0526 (-5.07%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BLPH) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Bellerophon Therapeutics to open at $0.0569, and during the day (based on 14 day Average True Range), to move between $0.0504 and $0.0604, which gives a possible trading interval of +/-$0.0050 (+/-9.03%) up or down from last closing price. If Bellerophon Therapeutics takes out the full calculated possible swing range there will be an estimated 18.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0550 (0.72%) than the resistance at $0.0570 (2.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bellerophon Therapeutics stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Bellerophon Therapeutics stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.621 Buy Candidate Upgraded
Predicted Opening Price for Bellerophon Therapeutics of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.0569 ( 2.62%) | $0.0554 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0618 | 11.55 % | |
| R2 | 0.0599 | 8.14 % | ||
| R1 | 0.0587 | 6.03 % | ||
| Current price: | 0.0554 | |||
| Support | S1 | 0.0550 | -0.796 % | |
| S2 | 0.0538 | -2.90 % | ||
| S3 | 0.0519 | -6.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0640 | 15.52 % | |
| R2 | 0.0571 | 2.98 % | ||
| R1 | 0.0570 | 2.89 % | ||
| Current price | 0.0554 | |||
| Support | S1 | 0.0550 | -0.722% | |
| S2 | 0.0533 | -3.88% | ||
| S3 | 0.0510 | -7.94% |
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